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Wells Fargo (NYSE:WFC), the owner of Wells Fargo Advantage Funds brand, is one of the four largest banks in the United States and has a legacy spanning 150 years in the financial services sector. With over $111 billion (excluding money market assets) of assets as on Nov 30, 2017, Wells Fargo Advantage Funds diversify their assets across a wide range of mutual fund categories. These include both domestic and foreign funds, asset allocation funds and fixed-income funds.
In 2010, the boards of trustees of Wells Fargo Advantage Funds and Evergreen Funds had approved the merger of the fund families to create a new fund lineup under the brand name Wells Fargo Advantage Funds. The Wells Fargo fund family claims that “each fund is guided by a premier investment team chosen for its focused attention to a particular investment style. There's a fund to meet the investment goals and risk tolerance of almost any investment portfolio.”
Below we share with you three top-ranked Wells Fargo Advantage Funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of Wells Fargo Advantage Funds.
Wells Fargo CoreBuilder Shares Series M WFCMX seeks maximization of returns through growth of income and capital. WFCMX invests more than 60% of its assets in municipal securities, which offer federal income tax exempted interest. Wells Fargo CoreBuilder Shares Series M has returned 6.6% year to date.
WFCMX has an expense ratio of 0.00% as compared to the category average of 0.79%.
Wells Fargo International Bond R6 ESIRX invests a bulk of its assets in foreign debt securities, issued by governments, corporate and supranational agencies. ESIRX invests in more than three different countries or supranational agencies. The fund may invest around 35% of its assets in debt securities, which are rated lower than investment-grade. Wells Fargo International Bond R6 has returned 9.5% year to date.
As of October 2017, ESIRX held 152 issues with 4.09% of its assets invested in Poland Government Bond Bonds 04/20 1.5.
Wells Fargo Municipal Bond A WMFAX seeks income, which is free from federal income tax. WMFAX invests a major part of its assets in municipal securities that offer federal income tax-exempted income. The fund may invest around one-fifth of its assets in securities that are subjected to federal alternative minimum tax. Wells Fargo Municipal Bond A has returned 5.5% year to date.
Robert Miller is one of the fund managers of WMFAX since 2008.
To view the Zacks Rank and past performance of all Wells Fargo Advantage Funds, investors can click here to see the complete list of funds.
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